Supreme court backs HMRC and rules bonus schemes operated by investment banks are not exempt from taxUBS and Deutsche Bank may bear to pay tens of millions of pounds to HMRC after the supreme court ruled that bonus schemes operated by the investment banks are not exempt from tax.
The judgment,which covers bonuses paid out as far back as 2004, is strongly critical of the banks’ sustained attempts to escape payments due to HMRC.Continue reading...
Source: theguardian.com